SHANGHAI, Oct. 14 (SMM) –
Supply of electrolytic manganese metal (EMM) was a little bit tight as producers are producing only to orders. Rigid demand from steel plants allowed EMM producers to hike offers slightly. However, higher quotations deterred steel producers from buying, so mainstream traded prices for EMM remained in the RMB 12,500-12,600/mt range.
EMM mainstream traded prices will remain between RMB 12,500-12,600/mt this coming week. On the one hand, supply will remain tight and those steel producers who did not build up stocks in appreciable amounts will continue to restock. On the other hand, overall demand is still weak, acting as a brake against any uptick in EMM prices.
EMM prices will hold largely stable in October, but may fall slightly at the end of the month should demand fails to pick up markedly.